With today's low of AUD 0.82, which was unexpected for me, I had...

With today's low of AUD 0.82, which was unexpected for me, I had to take a close look at the chart to calm myself down. After all, it's called "when in doubt zoom out", so here's the daily-based chart since early September.



The trend channel and the moving averages are shown. If we look at the chart completely neutral (without the knowledge of the general red market, and any demerger activities), then the chart continues to follow the trend channel.From today's perspective, the chart must actually be described as follows:

• after a local minimum at the end of February (at the outbreak of war in Ukraine) there was an extreme general rise in lithium values
• the trend channel was strongly broken to the upside, with a maximum on April 5
• there was the actually expectable inevitable counter-reaction
• the usual levels of the Fib retracement unfortunately did not hold
• the 100-day EMA was breached
• We are approaching the lower edge of the trend channel and the 200-day EMA.

From this perspective, there is justified hope that a minimum of AUD 0.76 really heralds the turnaround. This coincides with the general opinion that this value also already contains approx. 80% LLL at 0.70 AUD. I really can't imagine a working gold mine like FFX only being valued at less than 20 cents.Conclusion: from my point of view patience is required. If the turnaround is not clearly visible by the 06/06 deadline, I will be worried but not yet.As always my opinion, no recommendation for action!